Pajjuri表示："AI工作负载正朝着强化学习与分布式推理方向转型，而这两类技术路线均对存储器性能 提出极高要求。即将到来的HBM4迭代是另一重要利好，其平均售价预计高出30-50%。生成式AI的爆 发，也推动了高容量服务器内存条(DIMM)以及固态硬盘(NAND eSSD)的需求增长。尽管存储器价格高 企可能对PC及智能手机市场需求造成一定压力，但我们预计，到2027年，存储器行业仍将维持供不应 求的格局。" 与多家金融机构的观点一致，该行预计未来两年晶圆制造设备(WFE)领域的资本开支将保持强劲增长态 势。 Pajjuri补充道："此外，背侧供电、先进封装以及三维结构等技术趋势的落地，让我们有理由相信，未 来两年晶圆制造设备市场增速至少能达到高个位数水平。" 该行分析师Srini Pajjuri和Grant Li在一份投资者报告中指出："当前市场供应紧张，企业订单交付周期已 延长至18个月，这也让行业前景更为清晰。基础设施瓶颈或导致部分项目延期，但在我们看来，这未必 是利空因素——此类制约反而可能拉长并平滑AI领域的支出周期。尽管定制化专用集成电路(ASIC)近期 取得进展，但考虑到AI技术迭代速度迅猛 ...

【导读】美股收高，银行股、芯片股领涨；原油大跌，黄金白银跳水 美东时间2026年1月15日（周四），美股收高，在台积电财报带动下，美股芯片板块普涨。原油价格创下自2025年6月以来最大跌幅。 道指涨292.81点，涨幅为0.60%，报49442.44点；纳指涨58.27点，涨幅为0.25%，报23530.02点；标普500指数涨17.87点，涨幅为0.26%，报6944.47点。 CME"美联储观察"工具显示，美联储1月降息25个基点的概率为5%，维持利率不变的概率为95%。到3月累计降息25个基点的概率为20.8%，维持利率不变 的概率为78.4%，累计降息50个基点的概率为0.9%。 堪萨斯城联邦储备银行行长施密德于周四表示反对降息。他称通胀"过热"，并警告特朗普政府的政策可能进一步推动经济增长势头。 芝加哥联邦储备银行总裁古尔斯比表示，在有充分证据表明就业市场稳定的情况下，美联储应将重点放在降低通胀上。 美国上周初请失业金人数为19.8万人，预期为21.5万人，前值自20.8万人修正至20.7万人。 芯片股多数上涨 美国白宫发布声明，美国从1月15日起对部分进口半导体、半导体制造设备和衍生品加征25%进 ...

根据外面报道，美国总统特朗普日前与英特尔CEO陈立武会面后在社交平台发文，盛赞英特尔的进展， 表达美国正在实现将尖端芯片制造带回本土；辉达、苹果也接连和英特尔合作。魏哲家说，这么多年来 台积电一直和对手竞争，有信心可以保持领先。 英特尔目前最新技术进展到Intel 18A制程，但以优化内部产品需求为重点，是未来至少三个世代客户端 与服务器产品的关键技术基础。接下来的14A制程，据了解，则是从进行开发的时候就考虑到外部（代 工）需求。 去年包括美国政府、软银集团与英伟达都先后宣布将注资英特尔。英伟达并宣布将与英特尔共同开发多 代的定制化数据中心与PC产品，在数据中心方面，英特尔将为英伟达打造定制化x86 CPU，在个人计算 方面，英特尔将打造并推出整合英伟达RTX GPU芯片的x86系统单芯片。 台积电1月15日法说会中，法人关注英伟达、苹果等大客户与英特尔可能合作，订单是否松动？台积电 董事长魏哲家霸气回应："不会！"他强调，当前先进制程与系统整合日益复杂，时至今日"竞争不是光 靠砸钱就能成功"。 魏哲家强调，设计一项非常完整或先进的技术，并达到最佳化，通常需要约二到三年的时间，完成设计 才能打造产品，产品通 ...

Stock market performance in 2025 surprised to the upside as this bull market continued to impress the masses. The themes we saw last year appear to be carrying over into the new year, a positive sign that this multi-year rally still has legs.Inflation measures have come down markedly from their 2022 peaks. This week’s release of the December CPI report showed headline inflation rose 0.3% over the prior month and 2.7% on an annual basis, with both figures matching expectations.On a “core” basis, which strips ...

Taiwan Semiconductor Manufacturing (NYSE: TSM) is pushing higher on Thursday after posting yet another blockbuster quarter, marked by record revenue of NT$1.034 trillion. But an even bigger story is p... ...

Key Takeaways Intel is expanding AI PCs to bring fast, on-device AI to everyday personal and work tasks.INTC's Core Ultra and Panther Lake chips boost AI, graphics, and efficiency with 18A tech.Intel is partnering with HP, Microsoft, CrawlQ.ai, and NVIDIA to expand AI tools and future PC products.Intel Corporation (INTC) is focusing on expanding its presence in the artificial intelligence (AI) market by driving innovation and adoption through its next-generation AI PCs, which bring powerful on-device AI cap ...

Intel stock has risen 34% over the past month but RBC's Srini Pajjuri is cautious on its prospects. ...

格隆汇1月15日｜台积电涨逾4%，超威半导体涨近4%，英特尔涨逾3%，美光科技涨逾2%。 ...

每经AI快讯，1月15日，费城半导体指数涨逾3%，台积电涨逾4%，超威半导体涨近4%，英特尔涨逾 3%，美光科技涨逾2%。 ...

Core Insights - Intel Corporation and Broadcom Inc. are leading semiconductor companies focusing on AI and advanced chip technologies, with Intel emphasizing AI chips for data centers and PCs, marking a significant architectural shift for the company [1] - Both companies are advancing their semiconductor portfolios to enhance their competitive edge in the growing AI market across various applications [3] Intel's Position - Intel is experiencing strong demand for AI PCs, launching the Intel Core Ultra series 3 processor and planning to release Xeon 6+ in 2026, both manufactured using the advanced 18A process technology [4] - The company has secured a $5 billion investment from NVIDIA to develop innovative AI solutions, which are expected to enhance the semiconductor ecosystem [5] - Softbank's $2 billion investment in Intel aims to support AI research and development, alongside significant funding from the U.S. Department of Commerce to boost manufacturing capacity [6] - Despite these advancements, Intel faces challenges due to its reliance on the Chinese market amid tightening U.S. export restrictions, which could impact revenue and competition [7] Broadcom's Position - Broadcom is benefiting from strong demand for its networking products and custom AI accelerators, with next-generation XPUs designed for low power consumption [9] - The company has pursued strategic acquisitions to diversify its market presence, enhancing its capabilities in infrastructure software and storage chips [10] - However, Broadcom faces intense competition in its operating markets, leading to pricing pressures that could affect margins [11] Financial Estimates - The Zacks Consensus Estimate for Intel's 2025 sales indicates a 1% decline, while EPS is expected to grow by 361.5% [12] - In contrast, Broadcom's fiscal 2026 sales are projected to grow by 46.3%, with EPS rising by 44.6% [14] Price Performance and Valuation - Over the past year, Intel's stock has surged by 147.7%, outperforming the industry growth of 38%, while Broadcom has gained 47.5% [15] - From a valuation perspective, Intel's shares trade at a price/sales ratio of 4.29, significantly lower than Broadcom's 15.8 [15] Investment Outlook - Both companies anticipate earnings improvement, but Intel expects a revenue decline, contrasting with Broadcom's growth trajectory [20] - Broadcom shows a healthier long-term earnings growth expectation of 35.7%, compared to Intel's 9.3%, making Broadcom a more attractive investment option despite its higher valuation metrics [20]